Treasury sanctions Russian oil companies, calls for ceasefire
The U.S. Treasury Department announced sanctions against two Russian oil companies on Wednesday.
The department cited Russia’s “lack of serious commitment” to ending the war in Ukraine, according to a news release.
“Now is the time to stop the killing and for an immediate ceasefire,” Treasury Secretary Scott Bessent said. “Treasury is prepared to take further action if necessary to support President Trump’s efforts to end yet another war.”
The U.S. is targeting Open Joint Stock Company Rosneft Oil Company and Lukoil OAO in its sanction efforts, as well as 34 subsidiaries of the two oil companies.
The sanctions prohibit transactions for individuals or organizations within the United States between the Russian oil companies or their subsidiaries.
Over the summer, Trump levied tariffs against India, a Russian ally, over the nation’s purchase of Russian energy and oil. Trump cited the war in Ukraine as his reason for targeting India.
“The ultimate goal of sanctions is not to punish but to bring about a positive change in behavior,” the Treasury Department press release reads.
Cloudy
Latest News Stories
Extension of pension buyout program to drop $144B liability
Man pleads guilty in killings of Minnesota House speaker, husband
Fraud, price gouging, terrorism concerns plague World Cup debut in US
Trump cancels impending strikes on Iran, final deal pending
FBI arrests eight accused of ‘terrorizing’ U-M leaders, Jewish Federation
Colorado’s only ICE detention center operator sues state
U.S. House fails to renew spy powers authority as World Cup begins
House panel opposes adding U.S. Supreme Court justices
Schools face bus funding, cost challenges
Ohio pulls 1,200 commercial truck licenses for immigration guidelines
‘Family Month’ backer cites biology, declining birth rates in defense of resolution
Aldermen say lawmakers failed to address illegal cannabis sales near schools
